C. Douglas McMillon

Quick facts

Family: Wife Shelley; two sons. His parents, Morris and Laura, also live in Bentonville. McMillon’s brother-in-law and sister-in-law both work for Walmart; his sister is a Walmart supplier.

On November 25, Walmart announced that its Board of Directors elected McMillon to become the company’s fifth CEO, effective February 1, 2014, the beginning of Walmart’s FY 2015. He also joins the company’s Board of Directors immediately.

In choosing McMillon, the Board opted to elevate a Walmart insider who was essentially groomed for the job with executive experience in all three of the company’s major divisions. Industry observers generally approve of McMillon’s selection, citing factors such as his broad experience in the company and his ability to innovate. Some have even said his “photogenic boyish looks” and charming nature may bolster Walmart’s public image.

McMillon is said to be close to the Walton family and reportedly was their choice for Duke’s successor.

Wealth

McMillon’s most recent Form 4 filing, in August 2013, shows that he directly owns 479,288 Walmart shares, worth $38.8 million based on the 11/29/2013 closing price of $81.01 per share. Through trusts for his wife and children, McMillon has indirect control over 158,263 more shares, worth $12.8 million.

Real estate

McMillon and his family live in an 8,200 square-foot house in Bentonville. The house, valued at $2.3 million, sits on about 41 acres of land and has a basketball court and a pool. The family also owns 60 acres (valued at $527,300) of land in two adjacent lots, as well as a vacant half-acre lot (valued at $5,000) in a residential neighborhood in Bella Vista.

Educational and professional background

Education

Bachelor’s degree, Business Administration, University of Arkansas, 1989

MBA, Finance, University of Tulsa, 1991

Professional

McMillon famously began working for Walmart as a teenager in 1984, in a distribution center position. In 1990, while he was in business school at the University of Tulsa, he rejoined the company as a buyer trainee in sporting goods.[2] He also worked as a buyer in food, candy, ladies’ wear, and crafts; and was a divisional merchandise manager in home furnishings and infants/toddlers.[3]

Between 1998 and 1999, McMillon was a vice president and general merchandise manager for Sam’s Club stores, after which he was promoted to senior vice president and general merchandise manager for Walmart Stores, Inc.[4] In September 2002, McMillon became executive vice president and chief merchant for Sam’s Club. He was named to lead Sam’s Club in August 2005, a position he held until February 2009, when he became President and CEO of Walmart International.

Community connections

The McMillons are also major donors to the museum. In 2011, they contributed $105,000. The amount of their 2012 contribution is not yet available, but they were listed as “Next Generation Fund” sponsors, a designation that requires a minimum $100,000 donation.

Enactus (formerly known as SIFE, Students in Free Enterprise): Board of Directors

Amazeum: The McMillons are donors to the planned “Amazeum” children’s museum in Bentonville; other notable donors include various Walton family members and Walmart executives

Legal Notice: National Labor Relations Board notice regarding settlement in 16-CB-105773. Read notice here,.(Un aviso de Junta Nacional de Relaciones del Trabajo en 16-CB-105773. Lee aviso aqui). UFCW and OUR Walmart have the purpose of helping Walmart employees as individuals or groups in their dealings with Walmart over labor rights and standards and their efforts to have Walmart publicly commit to adhere to labor rights and standards. UFCW and OUR Walmart have no intent to have Walmart recognize or bargain with UFCW or OUR Walmart as the representative of its employees. Courts have enjoined non-Associate UFCW and OUR Walmart agents from entering any Walmart property, except to shop, in Arkansas (read order), Florida (read order), Texas (read order), Colorado (read order), Ohio (read order), and Maryland (read order); and in California from entering inside stores (read order).